A layer of political uncertainty in Nigeria was lifted, as the country’s stocks and bonds rose on Monday after the conclusion of the presidential election over the weekend.

It is unclear when the winner will be declared, but the electoral body has started to count votes in the closely-fought election that pitted President Muhammadu Buhari against businessman Atiku Abubakar.

The country’s stocks rose by 0.43 percent to 32,655 points while a rise in bond prices was more pronounced in longer-dated, local currency bonds such as the 2028 issue. Traders said no major trades occurred on the naira currency on Monday, as investors await the result of the vote. But on the forward market, the naira firmed to 396 per dollar, up from 401 posted a week ago.

A note released by analysts from Vetiva Capital said “barring any negative surprises at the polls, we anticipate a positive start to this week’s trading as investors price in improved certainty upon conclusion of the general elections”.

The election had been scheduled to take place on February 16 but was postponed by a week, just hours before it was due to begin. The head of the African Union observer mission said on Monday that the election had taken place in a generally peaceful environment. But the U.S. observer mission said the week-long delay had damaged public confidence in the process and probably reduced voter turnout.

Nigeria’s dollar-denominated eurobonds shuffled higher as investors waited on the first flurry of regional results. Having risen for the last five days running, longer dated bonds with maturities as far off as 2049 climbed almost 0.5 cents in the dollar. Analysts reveal that the growth more than made up for the losses suffered a week ago when the election was postponed.

The head of Africa strategy at Standard Chartered Bank, Samir Gadio said “the market opened on a constructive note … as evidenced by a receiving bias in USD/NGN forwards, supportive local bond performance and moderate gains in Eurobonds. The risk-on global backdrop, higher oil prices and prospects of larger portfolio inflows after the election are probably driving this positive market performance”.